Change Of Name Agreement Far

by lobo September 13, 2021  

In summary, name change agreements do not significantly change the contract, but since the administrative data need to be updated, the competent CO must nevertheless sign a formal agreement describing the subsequent modification of the management contract. Since name changes do not affect the material nature of the contract or counterparty, FAR Part 42.1204, which deals specifically with novation contracts, does not apply to name change agreements. 42.1205 – Agreement on the Recognition of the Change of Name of Contractors covers cases where only the name of the Contractor is changed and the rights and obligations of the Government and the Contractor are not affected. In these cases, the parties set up a contract reflecting the name change. (2) XYZ Corporation changed its name to ABC Corporation by amending its instrument of incorporation of _____ 20_ To support the preparation of the name change agreement, Part 42.1205(b) presents a template with the necessary blocks of words and signatures. 2. The opinion of the holder`s legal adviser, which indicates that the change of name has been carried out correctly in accordance with the legislation in force and which indicates the date of entry into force. 3. Such modification shall entail only a change in the name of the undertaking and shall not affect all the rights and obligations of the Government and the Contractor under the contracts. (a) if it is only a change in the name of the contractor and without prejudice to the rights and obligations of the government and the contractor, the parties shall conclude an agreement taking into account the change of name.

The holder shall send the competent contractual controller three signed copies of the name change agreement and a copy of the following: 1. The government, represented by various contract officials of ________ _____ it of the name `Annex A` and, by reference, incorporated into this Agreement`.] The term “Contracts”, as used in this Agreement, means the above-mentioned Contracts and Orders, as well as all other contracts and orders, including all modifications made by the Government and the Contractor prior to the date of entry into force of this Agreement (whether the performance and payment have been concluded and the decommitments have been executed, if the government or contractor has any remaining rights, such as customs duties or obligations arising from such contracts and orders). ABC Corporation (Contractor), a corporation duly organized and existing in accordance with the laws of ____ 1. The contracts covered by this Agreement shall be amended to replace the designation `XYZ Corporation` with the designation `ABC Corporation`, wherever it appears in the contracts; and (1) the document indicating the change of name, in conformity by an ordinary official of the competent State. 3. A list of all relevant contracts and orders which have not yet been concluded between the Contractor and the Government, with respectively the number and nature of the contract, as well as the name and address of the contract office. . . .


Written by

Posted In